Coinbase and Mastercard’s NFT Partnership – HUH Token Releases NFTs and Swap

By Lindsey Benson
2 years ago
In cryptocurrency

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Coinbase has joined forces with Mastercard in a bid to make NFTs more accessible and HUH Token is releasing their NFTs at the end of the month.

HUH Token was released late last year to great success. There were some complications with its presale calculations and caused some of their community to become quite vocal. HUH has attempted to rectify its shortcomings and one of those attempts is their NFT drop. With the current movements and alliances in the world of NFTs these could prove to be valuable.

The hope of this partnership between Coinbase and Mastercard is to expedite the creator economy and make it simpler for individuals to acquire NFTs. The process of acquiring an NFT currently remains confusing for many people. Coinbase wishes to simplify the user experience in order to attract more individuals to the NFTs community.

The release also mentioned Coinbase NFT, the exchange’s upcoming NFT marketplace, which was revealed in October. It said that the collaboration will assist in enhancing the user experience and making connecting to Mastercard’s worldwide network simpler. Mastercard also issued a release announcing that customers will be able to use Mastercard cards to make payments on Coinbase NFT.

Mastercard is aiming to make NFTs more accessible because they think technology should be inclusive. Getting more individuals participating in a safe and secure manner may be the most effective approach to help the NFT industry develop. Mastercard sees even more potential for NFTs’ underlying technology to expand beyond art and antiques into a variety of other fields.

The standard procedure of purchasing an NFT today, according to Mastercard, can be difficult and isn’t an easy experience for newcomers to the market. One of the issues is that over the past year, exorbitant gas rates on Ethereum have priced out many fresh NFT collectors.

Purchasing an NFT normally entails utilising a cryptocurrency wallet, filling it with a digital asset like ETH, and then either minting or purchasing a piece on the secondary market. There are additional transaction costs associated with utilising the blockchain.

Mastercard has gotten more active in the digital assets area in the past year as the business has evolved. In 2021, it teamed with Circle to settle USDC payments, collaborated with ConsenSys on a ZK-Rollup approach for scaling Ethereum, and hinted at enabling stablecoin payments.

Meanwhile, HUH Token is releasing its presale NFTs and Coinbase is slated to debut ‘Coinbase NFT’ soon. For many weeks, the Coinbase NFT Twitter account has been promoting collaborations with well-known NFT musicians.

HUH Token is not only trying to emulate NFT success, but it has also released a decentralised application (dApp) that allows investors to swap up to 20 top cryptocurrencies into HUH token without and hidden fee and a 5% extra reward. HUH Swap is only the beginning of an ecosystem that is being developed. MetHUH is the social network hub that they intend to create, which has plans for its own NFT market. There is also news about a DeFi game in construction that will be revealed next month.

HUH Token has a strong position on media marketing and this will only be exemplified by the initiative they have planned for the end of this month. There is going to be a big push in the advertisement of this token where about 500 well established and known Instagram and Twitter influencers will post about this cryptocurrency.

It tends to be a well-known tactic of following the rumour and not the news in the crypto community. As always, do your own research. This article is not financial advice and is intended for entertainment and educational purposes.